Euro inches higher as trade war fears hurt dollar; yuan slides

A mock opium-destroying ceremony commemorating the acts of Qing dynasty in 1839

A mock opium-destroying ceremony commemorating the acts of Qing dynasty in 1839

In worrying sign for some investors, the US yield curve flattened further, with the spread between the two and 10 year yields shrinking to a 10-year low of just 32 basis points, or 0.32 percentage point. Dow futures were down 0.1 percent and S&P 500 futures dipped 0.2 percent.

ASIA'S DAY: Japan's benchmark Nikkei 225 index remained nearly flat at 22,270.39 and South Korea's Kospi lost 1.2 percent to 2,314.24.

Japan's Nikkei index was moving down 0.3 percent despite automakers rebounding from recent heavy losses on tariff concerns.

Germany's DAX was down 1.2 percent to 12,206 and France's CAC 40 shed 0.6 percent to 5,293.

European Commission Vice President for Jobs, Growth, Investment and Competitiveness Jyrki Katainen said: "I am confident that the exchanges we have had with my new counterpart, Liu He, have been useful in paving the way towards a successful EU-China Summit in the economic and trade field".

Porsche's 919 Evo crushes Bellof's Nordschleife record
Porsche also holds the production vehicle lap record at the Nurburgring after its 911 GT2 clocked a 6:47.3 in September 2017. With a 2.0-liter turbocharged V4 engine paired to a hybrid system, the 919 Hybrid Evo delivers a total output of 1,160 hp.

Global markets were mixed Tuesday as traders monitored USA efforts to gain an upper hand in trade with China, particularly in the technology sector.

Beijing will reduce tariffs on thousands of products from India and South Korea, as well as the smaller economies of Sri Lanka, Bangladesh and Laos, China's commerce ministry said Thursday, CNN reported. It didn't address complaints Beijing hampers access to promising industries and that plans for state-led development of Chinese champions in electric cars and other industries violate its free trade commitments.

The United States is due to unveil restrictions on foreign investment in US technology companies on Friday, and President Donald Trump said they would not be confined to China. He urged Congress to strengthen existing laws that apply to all foreign countries instead.

It added that China might need to "adjust its policies" to open up its markets "due to economic uncertainty" arising from trade tensions.

In two separate moves in recent weeks, the USA has slapped tariffs on steel and aluminium imports from a number of sources, including the European Union, and on $50bn worth of Chinese goods.

Fellaini signs new 2 year deal with United
Marouane Fellaini has extended his Manchester United contract until 2020, with the option to extend for a further year. "I am pleased to be continuing my journey as a Manchester United player", Fellaini told the club's website.

ANALYST'S TAKE: "Trump's slightly softer tone seems to have been undermined by a reiteration of the previous harsh tone on trade and investment by his adviser". Brent crude, used to price worldwide oils, rose 25 cents to $74.98 per barrel in London.

He also argued that a protectionist United States has become a major drag on global cross-border investment and economic growth, and repeated the threat that China will fight back with "quantitative and qualitative measures" should the USA roll out a new tariff list.

US oil prices hit a 3-1/2-year high as plunging USA crude stockpiles compounded supply worries in a market already uncertain about uncertain Libyan exports, a production disruption in Canada and Washington's demands that importers stop buying Iranian crude.

OIL: Benchmark U.S. crude gained 21 cents to $70.74 per barrel in electronic trading on the New York Mercantile Exchange.

CURRENCIES: The dollar edged down to 110.18 yen from 110.20 Japanese yen in late trading Wednesday. The euro weakened to $1.1667 from $1.1704.

Gareth Southgate admits knives will be out if England lose to Colombia
England went out in 1996 on penalties, as they did at the World Cups in 1990, 1998 and 2006, and European Championships in 2004 and 2012.

Latest News